Raymond James Financial Services Advisors Inc. decreased its holdings in shares of Cypress Semiconductor Co. (NASDAQ:CY) by 6.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,529 shares of the semiconductor company’s stock after selling 3,177 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Cypress Semiconductor were worth $694,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Institutional & Family Asset Management LLC purchased a new stake in Cypress Semiconductor during the 1st quarter valued at $132,000. Hartford Investment Management Co. purchased a new position in shares of Cypress Semiconductor in the 2nd quarter worth $170,000. Wedbush Securities Inc. purchased a new position in shares of Cypress Semiconductor in the 1st quarter worth $177,000. Private Advisor Group LLC purchased a new position in shares of Cypress Semiconductor in the 1st quarter worth $180,000. Finally, Traynor Capital Management Inc. purchased a new position in shares of Cypress Semiconductor in the 1st quarter worth $201,000. 82.16% of the stock is owned by institutional investors and hedge funds.
CY has been the topic of a number of recent research reports. ValuEngine cut Cypress Semiconductor from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. BidaskClub raised Cypress Semiconductor from a “hold” rating to a “buy” rating in a report on Wednesday, July 11th. Craig Hallum raised their price target on Cypress Semiconductor from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, July 27th. Needham & Company LLC reissued a “buy” rating and set a $23.00 price target on shares of Cypress Semiconductor in a report on Friday, July 27th. Finally, Zacks Investment Research raised Cypress Semiconductor from a “hold” rating to a “strong-buy” rating and set a $20.00 target price on the stock in a report on Wednesday, August 1st. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $19.96.
Cypress Semiconductor (NASDAQ:CY) last announced its quarterly earnings results on Thursday, July 26th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.08. The firm had revenue of $624.00 million during the quarter, compared to analyst estimates of $618.49 million. Cypress Semiconductor had a return on equity of 18.51% and a net margin of 0.49%. Cypress Semiconductor’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 earnings per share. equities research analysts expect that Cypress Semiconductor Co. will post 1.06 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 18th. Stockholders of record on Thursday, September 27th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Wednesday, September 26th. Cypress Semiconductor’s payout ratio is currently 73.33%.
In other news, EVP Sudhir Gopalswamy sold 3,000 shares of the stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $15.39, for a total transaction of $46,170.00. Following the sale, the executive vice president now directly owns 114,157 shares of the company’s stock, valued at approximately $1,756,876.23. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 11,565 shares of company stock worth $186,904. Corporate insiders own 0.43% of the company’s stock.
Cypress Semiconductor Profile
Cypress Semiconductor Corporation designs, develops, manufactures, markets, and sells embedded system solutions worldwide. It operates in two segments, Microcontroller and Connectivity Division, and Memory Products Division. The Microcontroller and Connectivity Division provides microcontroller (MCU), analog, and wireless and wired connectivity solutions, including Traveo automotive MCUs; programmable system-on-chip and general-purpose MCUs; ARM Cortex-M4, -M3, and -M0+ MCUs; R4 CPUs; analog power management integrated circuits and energy harvesting solutions; CapSense capacitive-sensing controllers; TrueTouch touchscreens; Wi-Fi, Bluetooth, Bluetooth low energy, and ZigBee solutions; WICED development platform; and USB controllers comprising solutions for the USB-C and USB power delivery standards, as well as wireless Internet of things connectivity solutions.
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